close solutoin list

Lori Jeffrey is a successful sales representative for a major publisher of college textbooks. Historically, Lori obtains a book adoption on 25% of her sales calls. Viewing her sales calls for one month as a sample of all possible sales calls, assume that a statistical analysis of the data yields a standard error of the proportion of .0625. a. How large was the sample used in this analysis? That is, how many sales calls did Lori make during the month? b. Let p ¯ indicate the sample proportion of book adoptions obtained during the month. Show the sampling distribution of p ¯ . c. Using the sampling distribution of p ¯ , compute the probability that Lori will obtain book adoptions on 30% or more of her sales calls during a one-month period.

BuyFind

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
BuyFind

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

Solutions

Chapter
Section
Chapter 7, Problem 54SE
Textbook Problem

Lori Jeffrey is a successful sales representative for a major publisher of college textbooks. Historically, Lori obtains a book adoption on 25% of her sales calls. Viewing her sales calls for one month as a sample of all possible sales calls, assume that a statistical analysis of the data yields a standard error of the proportion of .0625.

  1. a. How large was the sample used in this analysis? That is, how many sales calls did Lori make during the month?
  2. b. Let p ¯ indicate the sample proportion of book adoptions obtained during the month. Show the sampling distribution of p ¯ .
  3. c. Using the sampling distribution of p ¯ , compute the probability that Lori will obtain book adoptions on 30% or more of her sales calls during a one-month period.

Expert Solution

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Solution

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Chapter 7 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT
Show all chapter solutions
Ch. 7.3 - The following data are from a simple random...Ch. 7.3 - A survey question for a sample of 150 individuals...Ch. 7.3 - A sample of 5 months of sales data provided the...Ch. 7.3 - Morningstar publishes ratings data on 1208 company...Ch. 7.3 - The National Football League (NFL) polls fans to...Ch. 7.3 - A sample of 426 U.S. adults age 50 and older were...Ch. 7.3 - One of the questions in the Pew Internet American...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - Assume the population standard deviation is = 25....Ch. 7.5 - Suppose a random sample of size 50 is selected...Ch. 7.5 - Refer to the EAI sampling problem. Suppose a...Ch. 7.5 - In the EAI sampling problem (see Figure 7.5), we...Ch. 7.5 - Barrons reported that the average number of weeks...Ch. 7.5 - The College Board reported the following mean...Ch. 7.5 - For the year 2010, 33% of taxpayers with adjusted...Ch. 7.5 - The Economic Policy Institute periodically issues...Ch. 7.5 - The state of California has a mean annual rainfall...Ch. 7.5 - The mean preparation fee HR Block charged retail...Ch. 7.5 - To estimate the mean age for a population of 4000...Ch. 7.6 - A sample of size 100 is selected from a population...Ch. 7.6 - A population proportion is .40. A sample of size...Ch. 7.6 - Assume that the population proportion is .55....Ch. 7.6 - The population proportion is .30. What is the...Ch. 7.6 - The president of Doerman Distributors, Inc.,...Ch. 7.6 - The Wall Street Journal reported that the age at...Ch. 7.6 - People end up tossing 12% of what they buy at the...Ch. 7.6 - Forty-two percent of primary care doctors think...Ch. 7.6 - In 2008 the Better Business Bureau settled 75% of...Ch. 7.6 - The Grocery Manufacturers of America reported that...Ch. 7.6 - The Food Marketing Institute shows that 17% of...Ch. 7 - Jack Lawler, a financial analyst, wants to prepare...Ch. 7 - The latest available data showed health...Ch. 7 - Foot Locker uses sales per square foot as a...Ch. 7 - Allegiant Airlines charges a mean base fare of 89....Ch. 7 - After deducting grants based on need, the average...Ch. 7 - Three firms carry inventories that differ in size....Ch. 7 - A researcher reports survey results by stating...Ch. 7 - A production process is checked periodically by a...Ch. 7 - Fifteen percent of Australians smoke. By...Ch. 7 - A market research firm conducts telephone surveys...Ch. 7 - Advertisers contract with Internet service...Ch. 7 - The proportion of individuals insured by the...Ch. 7 - Lori Jeffrey is a successful sales representative...Ch. 7 - Managerial Report Prepare a managerial report that...

Additional Math Textbook Solutions

Find more solutions based on key concepts
Show solutions
Describe the economic logic behind the theory of purchasing-power parity.

Brief Principles of Macroeconomics (MindTap Course List)

Identify the activities associated with each phase.

Foundations of Business (MindTap Course List)

Why should policymakers think about incentives?

Essentials of Economics (MindTap Course List)

RECAPITALIZATION Tapley Inc. currently has total capital equal to 5 million, has zero debt, is in the 40% feder...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Name some users of accounting information.

Corporate Financial Accounting

Identify possible sources and use them to identify a topic area for research.

Research Methods for the Behavioral Sciences (MindTap Course List)

Describe the difference between inductive and deductive reasoning and give an example of each.

Research Methods for the Behavioral Sciences (MindTap Course List)

For , f′(x) =

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

The following fictitious table shows kryptonite price, in dollar per gram, t years after 2006. t= Years since 2...

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

If p(E)=27, find o(E) and o(E).

Mathematics: A Practical Odyssey

Show by means of an example that limxa[f(x)+g(x)] may exist even though neither limxaf(x) nor limxag(x) exists....

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Evaluate the integral. 27. dx1+ex

Single Variable Calculus: Early Transcendentals

If f and g are increasing on an interval I, then f + g is increasing on I.

Single Variable Calculus: Early Transcendentals, Volume I

Attitudes toward Supermarket Brands. A study by Consumer Reports showed that 64% of supermarket shoppers believ...

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)

Find the deflection y(x) of a cantilever beam embedded at its left end and free at its right end when the load ...

A First Course in Differential Equations with Modeling Applications (MindTap Course List)